The new party known as Christened People's Redemption Movement (PRM) was formed to renew and restore the hope of Ghanaians.
The leadership of the party said in the moment of great fear, despair, and anxiety that has gripped the psyche of the nation to transform and promote real and sustainable economic growth of the country.
The interim General Secretary of PRM, Edward Adade, at a press conference in Accra to outline the vision of the new political party said the thirty years of democratic dispensation of the country have rather made the citizenry disillusioned as a result of the country's governance systems and poor socio-economic infrastructure and services.
The party has a lion as its symbol.
Adade explained that it portrayed the strength to defend the country against abuse and destruction of state resources by anybody in high or low places.
The motto of the party is "Open Government for Real Development" with black, red, and white as its colours.
Speaking on the current state of the Ghanaian economy, Adade said the rising level of corruption is unprecedented, youth employment, insecurity, wanton dissipation of state resources, and poverty have found their ugly head on the economy which have deeply threatened the stability of the country's growth and development.
He, therefore, called on Ghanaians to reflect on the memories of Dr. Kwame Nkrumah and other selfless leaders and patriots who truly promoted the development and betterment of Ghana.